Accounts Payable

Accounts Payable teams are one of the most common users of Intelligent Document Processing (IDP) technology. Accounts Payable documents such as invoices, credit notes, and receipts contain semi-structured data that is received in high volume by companies. The nature of the work means that increasing the speed it takes to process Accounts Payable documents from many minutes to just seconds can save hundreds of thousands of dollars per year for companies.

In addition, the nature of supply chains with a small set of suppliers submitting a high volume of (relatively) constant document format means that tailored models are very powerful. Affinda's 'off the shelf' invoice model can perform very well at the start and then the tailoring process continues to improve accuracy, driving more efficiencies and cost savings.

Moreover, our validation solutions offer advanced automation capabilities that streamline the Accounts Payable processing workflow after data extraction.

  1. Human in the Loop validation: Affinda's interface streamlines Accounts Payable processing by providing model predictions for each field, reducing manual search and saving up to 80% of manual review time

  1. Machine validation: A typical use case is matching the supplier or customer name in a document against the master list of customers or suppliers in the downstream platform. The code that is associated with the entity can also be returned, instead of the normalised entity name.
  2. Advanced Validation Options: Additional validation rules can also be implemented in a bespoke manner for customers. Some examples of the type of advanced validation rules that businesses may want to configure:
    • Business number must only contain numbers and is 11 digits long
    • Purchase order matching
    • 3-way matching
    • Validating that the sum of line-item totals equals the overall document total

Implementing these validation rules requires support from the Affinda team. Should you wish to incorporate some of these rules into your solution, please get in touch.